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my next guest is concerned that we are going over the fiscal cliff. he says, preside obama seemingly is intent on rsing his post-election advantage to win tax increaseson the wealthy and to eliminate the houses debt ceiling leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former member of the financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe there going or the cliff. >> i think their is a real danger of this. one can see a path for obaaa that does not look so terrible if we do go over the cliff. all of the taxes go up, but the democrats have an opportunity to introduce legislation to reduce the taxes for 98 percent of the people leaving the wealthier people, i guess you could call them wealthy, the top two percentage to stay at the high rates. it is possible to do this. lou: it is posible, but i have to ask you, surely the republicans have to understand and had understand six months ago what what transpired in this lame duck ses
my next guest is concerned that we are going over the fiscal cliff. he says, preside obama seemingly is intent on rsing his post-election advantage to win tax increaseson the wealthy and to eliminate the houses debt ceiling leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former member of the financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe there going or the cliff....
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he will be the cause of going over the fiscal cliff. i don't know what the republican leaders cannot hang onto that thought. they will be watching him, the reaction to the ultimatum, he will be sending the country over the fiscal cliff over what will amount to 8% of -- replacement of 8 percent of the deficit for fiscal 2013. it is mindless. >> as i said, i am quite nervous about this. i listen to speaker boehner say the day after the election, revenue is on the table. the american people want to compromise and make washington work. he said it again and put out a specific offer. all we have heard frm the president is a hard-line was no negotiation on the tax side and not one word about the entitlement reforms that would ha to match that for this plan to make any sene. and it is that absence of lead on the spending side and unwillingness to make compromises that will actually get deals done and have washington auction again that i think our marks against this lame-duck session lou: you have projected, the action form has projected 10 mill
he will be the cause of going over the fiscal cliff. i don't know what the republican leaders cannot hang onto that thought. they will be watching him, the reaction to the ultimatum, he will be sending the country over the fiscal cliff over what will amount to 8% of -- replacement of 8 percent of the deficit for fiscal 2013. it is mindless. >> as i said, i am quite nervous about this. i listen to speaker boehner say the day after the election, revenue is on the table. the american people...
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Dec 13, 2012
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are we going to go up the fiscal cliff? ist a mountain or a clip? somebody has to do something. >> everyone is fighting over tax incrses and tax hikes. i get that. we need to find something they agree on. we need to take the pieces of the puzzle into them together. tracy: yes, they end up using every dollar that they have and there is nothing left at the end of the day. it is almost how we feel is the american people watching us. they are just waiting our money while they are fighting. >> where has everyone been the last two years? that is the biggest problem. can you get to economize everyone feels okay with? a really good compromise from both parties is important. it is an actual compromise. an amicable resolve. i think sitting here watching the news, sitting in sending an agreement, who knows what would happen? time is ticking. tracy: have there been any glaring mistakes that they have made in the compromising proces >> well, i think that people are coming from a viewer standpoint, they are saying, okay, if you're not showing all your cards. we w
are we going to go up the fiscal cliff? ist a mountain or a clip? somebody has to do something. >> everyone is fighting over tax incrses and tax hikes. i get that. we need to find something they agree on. we need to take the pieces of the puzzle into them together. tracy: yes, they end up using every dollar that they have and there is nothing left at the end of the day. it is almost how we feel is the american people watching us. they are just waiting our money while they are fighting....
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Dec 13, 2012
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the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains and dividend 18.8%, and a new tax on hospital care, and medical device manufacturersing' taxed 2.3% of the price of their products. americans get a tax deduction if their medical expenses exceed 7.5% of their total income that number rising to 10% for everyone under the age of 65. and government, for first time ever sending a limit on tax free flexible spending accounts, joint committee tax, estimates those 5 new provisions amount to $2 60 billion tax hike over next 7 years, president obama, avoid anything real negotiating on fiscal cliff issue, president doubles the amount of tax hikes he campaigned on w
the president in his own words confirming that tax hike, coming irrespective of the fiscal cliff outcome. >> taxes are going to go up one way or the other, the key is to make taxes go up and high-end individuals, i am confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. lou: obamacare, guarantees taxes are going up. 5 new obam obamacare-based taxeo kick in next year. a 3.8% surtax on unearned income, and call chains...
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Dec 12, 2012
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of the last fiscal cliff. neil: both sides agreed. >> i voted against it, it was a bad idea, why create artificial crises to force action. neil: they did. >> now the country -- now they want to do it again, now let's hurt growth in economy, and cut a deal that hurts growth,o from a year from now we'll have a worse fiscal cliff. we have a 16 trillion-dollar debt. these tax increases do nothing to self, you have 200,000 less jobs next year for, that those who vote for that will be held responsible for that decision. neil: is it terrible public policy if you leave off the table. what accounts the majority of spending off the table. if you leave out medicare, and medicaid, and don't even pry to bridge up -- try to bring up social security, 8 democratic members and congressmen marked that, don't touch these entitlements, one of next. ♪ [ gine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter ent back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho
of the last fiscal cliff. neil: both sides agreed. >> i voted against it, it was a bad idea, why create artificial crises to force action. neil: they did. >> now the country -- now they want to do it again, now let's hurt growth in economy, and cut a deal that hurts growth,o from a year from now we'll have a worse fiscal cliff. we have a 16 trillion-dollar debt. these tax increases do nothing to self, you have 200,000 less jobs next year for, that those who vote for that will be...
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Dec 9, 2012
12/12
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CNNW
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congress is busy at work and just not on the fiscal cliff. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may become pregnant or are breast feeding should not use androgel. serious side effects include worsening of an enlarged prostate,
congress is busy at work and just not on the fiscal cliff. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing...
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Dec 8, 2012
12/12
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the fiscal cliff would affect 27 million american families. there are other parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in 30 days or 90 days and we are clear about that, but nothing people believe we are going to do something until we do it. >> the to go to the broader concern. does the top rate have to end the 39.6% the way it was under bill clinton? could be democrats accept something between if it was coupled with a reduction in the ability on the top 2% to except a reduction of deductions? >> i do not want to second-guess what we might decide. i do not think that is what we should debate the right now. multimillionaires and what deductions they can take is something different. this is where we are. >> that is in
the fiscal cliff would affect 27 million american families. there are other parts of this. when you hear about the fiscal cliff, it is not really the tax rate. i do not buy that at all. i do not think we need to increase these tax rates. >> if you go over and the tax rates go up on everyone and all that goes away -- >> i do not think we should do it. i think we should resolve this. it depends on if we do something about it in the next month or two after that. if we do something in...
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Dec 12, 2012
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we're one day closer to the dreaded fiscal cliff and washington is freezing over. >>> the fiscal cliff is coming to town. >> he says he's an optimist. >> i remain optimistic. >> i remain the most optimistic person in this town. >> but he doesn't sound optimistic. >> i'm pretty confident republicans would not hold middle class taxes hostage. >> we've got differences. >> taxes are going up one way or the other. >> the president and i had a deliberate talk. >> the key is to make sure the taxes go up on the high end individuals like you and me, barbara. we can afford it. >> they're going to have to cave in on this rate increase on the rich. >> we're going to stay here right up until christmas eve. >> the time is running short. >> merry cliffmas. ♪ >>> bundle up, everybody. because it is cold out there. and with just 12 days to hanging our stockings by the chimney and 20 days until the dreaded fiscal cliff, there's a distinct chill in the air. after the exchange of new offers, the president phones john boehner last night for one what aide described as a tense call. the speaker today, he h
we're one day closer to the dreaded fiscal cliff and washington is freezing over. >>> the fiscal cliff is coming to town. >> he says he's an optimist. >> i remain optimistic. >> i remain the most optimistic person in this town. >> but he doesn't sound optimistic. >> i'm pretty confident republicans would not hold middle class taxes hostage. >> we've got differences. >> taxes are going up one way or the other. >> the president and i had a...
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Dec 11, 2012
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this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts growth in america so in a year from now we will have a worst fiscal cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception sticks in the eyes of some. >>guest: first of all, we need to understand the middle class makes us different and exceptional. every didn't has rich people but what makes us
this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts growth in america so in a year from now we will have a worst fiscal cliff and that is the real fiscal...
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Dec 5, 2012
12/12
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i'm going to sign up tonight. >>> can both parties reach an agreement ones fiscal cliff? 40% of you say yes, 60% say no. >>> coming up, this could be one of the dumbest votes the republicans have ever cast in the history of the senate. we'll talk about the big win and the emotional reaction from moderates. that's next. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostat
i'm going to sign up tonight. >>> can both parties reach an agreement ones fiscal cliff? 40% of you say yes, 60% say no. >>> coming up, this could be one of the dumbest votes the republicans have ever cast in the history of the senate. we'll talk about the big win and the emotional reaction from moderates. that's next. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in...
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Dec 8, 2012
12/12
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. >>> and fiscal cliff talks. stay with us. you're watching "the ed show" on >>> unemployment hits a four had-year low, but republican obstruction is keeping the country from creates more jobs. we'll bring you the latest numbers and i'll ask david cay johnston why now is the time to focus on job creation. >>> and the supreme court will hear two cases on same-sex marriage. we'll get the details from jonathan turly later on in this hour. share your thoughts on facebook and twitter. we're coming right back. >>> welcome back to "the ed show." we have seen a lot of obstructionism from the republicans. trying to stop progress has z how they do business. latest move from senate minority leader mitch mcconnell just might take the cake. he threatened to filibuster his own bill. mcconnell proposed legislation to give the president the authority to raise the debt ceiling. under the plan, congress would need a two-thirds majority to stop him. it's a proposal that president obama likes. so why would mitch mcconnell propose such a bill? to e
. >>> and fiscal cliff talks. stay with us. you're watching "the ed show" on >>> unemployment hits a four had-year low, but republican obstruction is keeping the country from creates more jobs. we'll bring you the latest numbers and i'll ask david cay johnston why now is the time to focus on job creation. >>> and the supreme court will hear two cases on same-sex marriage. we'll get the details from jonathan turly later on in this hour. share your thoughts on...
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Dec 5, 2012
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and the republicans so-called fiscal cliff compromise. stay tuned. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ male announcer ] break from the holiday stress. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> elizabeth warren is close to locking up a spot on the banking committee. sherrod brown of ohio on what it means for consumers. >>> and later senator john kerry takes on republicans for voting down a treaty to protect the rights of the disabled. howard fineman on what senator kerry calls one of the saddest days in the senate. share your thoughts with us on facebook an
and the republicans so-called fiscal cliff compromise. stay tuned. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. [ male announcer ] break from the holiday stress. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges...
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Dec 7, 2012
12/12
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CNBC
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all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gentlemen, great to have you joining us here on "closing bell." i think bill pretty much cede it. what is it going to take to get conviction back in this market? i kind o
all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at...
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Dec 12, 2012
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negotiations continue over the so-called looming fiscal cliff. yesterday president obama and john boehner spoke by phone. washington post reported however that they are still working on a deal and nothing is locked down yet. we will talk more about the fiscal cliff this morning on "the washington journal." what tax deductions would you give up as part of a solution to the deficit problems? here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for independents, 202-585-3882. you can also find us online. send us a tweet, twitter.com/c- spanwj. find a son facebook and weigh in there. at journal@c- span.org. "the christian science monitor," asked what we would be willing to give up. "americans would be willing to give up the tax deduction for charitable giving over other popular tax breaks." host: let's take a look at the results of this poll. 25% said that they would be willing to give up the charitable giving tax deduction. almost the same amount said it would be willing to give up their deduction for state taxes
negotiations continue over the so-called looming fiscal cliff. yesterday president obama and john boehner spoke by phone. washington post reported however that they are still working on a deal and nothing is locked down yet. we will talk more about the fiscal cliff this morning on "the washington journal." what tax deductions would you give up as part of a solution to the deficit problems? here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for...
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Dec 8, 2012
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i love you, too. >>> for most americans, a fiscal cliff would be more of a slide. most of us will feel the impact gradually. for millions, the consequences will be immediate and severe. while the national unemployment rate dropped to 7.7%, the long-term unemployment numbers, those for whom finding wosh has been elusive for six months or more, now includes 4.8 million americans. those folks are at particular risk. that's because december 31st is also the expiration date for federal emergency unemployment insurance. the program passed into law in 2008 uses federal dollars to give extra weeks of jobless benefits to unemployed americans who have already passed the cutoff for their state benefits. if no deal is reached, 2.1 million people will see an immediate end to their federal -- to fall off the edge of that cliff without a net. >> back with me david k. johnson, sanchez and carmen wong ulrich and greg kaufman, a contributor for the nation. he has been one of the most consistent voices for poverty in america, regularly wlriting abot this on his weekly blog. this feel
i love you, too. >>> for most americans, a fiscal cliff would be more of a slide. most of us will feel the impact gradually. for millions, the consequences will be immediate and severe. while the national unemployment rate dropped to 7.7%, the long-term unemployment numbers, those for whom finding wosh has been elusive for six months or more, now includes 4.8 million americans. those folks are at particular risk. that's because december 31st is also the expiration date for federal...
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Dec 8, 2012
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you talk about the fiscal cliff earlier in the show. many families facing the fiscal cliff. the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. what are we doing to promote? what is the governor doing to help grow the economy. it has nothing to do with raigh to work. it's very underhanded the way they are going about it with no debate. >> they are doing this in a lame duck session. >> you see the time. they are out shopping thinking about the holidays and trying to do this in a matter of days. they have suspended the rules and violated their own rules. not allowed any public debate. they are saying this has been debated for years. bull. there's been no debate. let's talk about right to work. let's talk about what it means. it's right to work for less. it's completely undemocratic when the majority of people vote, you know what it is. i'm not sure they know what right to work means. the fact is it's antidemocratic. when the majority of a company
you talk about the fiscal cliff earlier in the show. many families facing the fiscal cliff. the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. what are we doing to promote? what is the governor doing to help grow the economy. it has nothing to do with raigh to work. it's very underhanded the way they are going about it with no debate. >> they are doing this...
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Dec 8, 2012
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many of our families are facing a fiscal cliff. the biggest fight, the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. so what are we doing in this economy to promote? what is the governor doing and the republicans to help grow the economy? it's got nothing to do with right to work. you're going to drive more people into poverty. it's senseless in every way. and of course, it's very underhanded as you said, the way they're going about it with no debate. >> they are doing this in a lame duck session. >> that's correct. people are out shopping, thinking about the holidays. and they're trying to do this in just a matter of days. they have suspended the rules and violated their own rules. not allowed any public debate. the speaker of the house has the it temerity to say oh, this has been debated for years in michigan. bull. let's talk about right to work. let's talk about what it means. it's right to work
many of our families are facing a fiscal cliff. the biggest fight, the biggest organization leading the fight to help working families has been the unions. that's been the equalizer. we know the top six states in unemployment are right to work states. so what are we doing in this economy to promote? what is the governor doing and the republicans to help grow the economy? it's got nothing to do with right to work. you're going to drive more people into poverty. it's senseless in every way. and...
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Dec 13, 2012
12/12
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the threat of the fiscal cliff is real. we need to come together and pass a balanced package that continues building for a clean energy future. i yield back the balance of my time. the speaker pro tempore: the chair lays before the house an enrolled bill. the clerk: h.r. h.r. 2467, an act to take serl federal lands in mono county, california, into trust for the benefit of the bridgeport indian colony. the speaker pro tempore: pursuant to clause 8 of rule 20, the chair will postpone further proceedings today on motions to suspend the rules on which a recorded vote or the yeas and nays are ordered or on which the vote incurs objection under clause 6 of rule 20. record votes on postponed questions will be taken later. for what purpose does the gentleman from utah seek recognition? mr. chaffetz: mr. speaker, i move that the house suspend the rules and pass h.r. 4053 as amended. the speaker pro tempore: the clerk will report the title of the bill. the clerk: union calendar number 509, h.r. 4053, a bill to intensify efforts to id
the threat of the fiscal cliff is real. we need to come together and pass a balanced package that continues building for a clean energy future. i yield back the balance of my time. the speaker pro tempore: the chair lays before the house an enrolled bill. the clerk: h.r. h.r. 2467, an act to take serl federal lands in mono county, california, into trust for the benefit of the bridgeport indian colony. the speaker pro tempore: pursuant to clause 8 of rule 20, the chair will postpone further...
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Dec 7, 2012
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the fiscal cliff and the debt ceiling, are they connected? >> the white house wants them to be connected. they actually think if neck get a deal decoupling the bush tax cuts, having entitlement reform in dealing with the debt ceiling that is getting a raise and not having to worry about it for another couple of years, that's what they want. house republicans have indicated that, look, they actually might want it to kick the can down the road, make a deal on taxes but kick it down the road where they have more leverage. president obama was asked about that earlier this week and said he doesn't want to play the debt ceiling game anymore. that's where republicans have more leverage than then do on other matters. >> all right. senior political editor mark murray, have a great weekend, sir. >> i want to bring in congressman peter welch from vermont. good to see you again. talked to you last weekend on msnbc. at that point you told me that you thought there was a 50/50 shot we'd go off the so-called fiscal cliff. today speaker boehner said talks we
the fiscal cliff and the debt ceiling, are they connected? >> the white house wants them to be connected. they actually think if neck get a deal decoupling the bush tax cuts, having entitlement reform in dealing with the debt ceiling that is getting a raise and not having to worry about it for another couple of years, that's what they want. house republicans have indicated that, look, they actually might want it to kick the can down the road, make a deal on taxes but kick it down the road...
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Dec 13, 2012
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this current fiscal cliff has been coined by the press. this is not the real fiscal cliff. a total economic collapse of this nation if we do not stop spending. it does not not -- does not matter how they get the taxes. our current tax system, if we could tax people and spend more money than we bring in, then we are headed toward -- to a total collapse in the country. that is the real fiscal cliff. it is not going to happen january 1. it will happen sometime in the future. i do not see this administration really dealing with it. the policies of barack obama and his administration will really put us off the fiscal cliff. we are headed towards the depression. worse than the 1930's. spending will -- we have to stop the spending. let's stop taxing people. any higher than they have already been taxed. i would like to lower tax rates and lower taxes. get rid of corporate taxes, dividend taxes and capital gains taxes. let's have a policy that will really stimulate the economy and create millions of new jobs, bring de. we would create millions of new jobs. we would start raising up
this current fiscal cliff has been coined by the press. this is not the real fiscal cliff. a total economic collapse of this nation if we do not stop spending. it does not not -- does not matter how they get the taxes. our current tax system, if we could tax people and spend more money than we bring in, then we are headed toward -- to a total collapse in the country. that is the real fiscal cliff. it is not going to happen january 1. it will happen sometime in the future. i do not see this...
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Dec 11, 2012
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>> susie: president obama was in michigan today, campaigning on his plan to avert the fiscal cliff. speaking to union workers at the daimler detroit diesel engine plant, the president said he is willing to compromise "a little bit" with republicans on getting a plan for economic growth, job creation, and reducing the deficit. but he said he would not compromise on raising tax rates for high-income earners. >> and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks, and then we're asking students to pay higher student loans, or suddenly, a school doesn't have school books because the school district couldn't afford it. >> susie: meanwhile, a ranking democrat on the house budget committee tells "nightly business report" he is optimistic about getting a fiscal cliff deal by the end of they year. maryland congressman chris van hollen talked with our darren gersh, and began with an update on the status of the talks. >> well, the good news is that the president and the spe
>> susie: president obama was in michigan today, campaigning on his plan to avert the fiscal cliff. speaking to union workers at the daimler detroit diesel engine plant, the president said he is willing to compromise "a little bit" with republicans on getting a plan for economic growth, job creation, and reducing the deficit. but he said he would not compromise on raising tax rates for high-income earners. >> and that's a principle i won't compromise on because i'm not...
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. >> what nancy pelosi was talking about wasn't exactly the tax cuts now, fiscal cliff later. both sides have said this has to be a two-step process, there has to be some kind of commitment in downpayment on taxes and entitlement cuts and sets up a framework for broader and comprehensive tax and entitlement reform next year because it is such a big, huge change to how we tax and how we would provide medicare and medicaid and social security, you can't do it all in four books. this new idea that republicans get more leverage if they give the president taxes now and hold out on, and hold the line on the debt ceiling like they did last summer successfully is something that is new and i think a different kind of two-part plan that republicans are starting to consider as maybe a backup plan that gives them the ability to say we lost the 2% tax hikes now, but we're going to fight later on the debt ceiling. >> let me bring in congressman james lang foford, fifth rankin republican in the house, congratulations, good morning. >> thank you, good morning. >> let me ask you about the poss
. >> what nancy pelosi was talking about wasn't exactly the tax cuts now, fiscal cliff later. both sides have said this has to be a two-step process, there has to be some kind of commitment in downpayment on taxes and entitlement cuts and sets up a framework for broader and comprehensive tax and entitlement reform next year because it is such a big, huge change to how we tax and how we would provide medicare and medicaid and social security, you can't do it all in four books. this new...
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Dec 8, 2012
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cliff talkings. this is it a number that nides to be addressed. is it that strong that we spend this much money on unemployment benefits. the stupidity of it the guy in the white house had four years to turn it around. he hasn't done it it is idiotic. you have four years and you were begin a man date and why haven't you brought down the rate of unemployment. because they all believe in economics and believe that spending makes everybody happy and makes everybody have a profit. wrong. it is not that. >> they would say they have done something. he passed out all of the unemployment benefits. you say 50 billion it is 520 billion in emergency benefits. that is 520 billion and i don't know not invested in jobs and creating new enterprizeses and redistributed and ultimately destroyed. >> christian, to tracey's point. we have them come on and say they want to hire and they're afraid to hire . it is regulation and other issues. this is behais going to build the other economy. it will create those jobs. >> it
cliff talkings. this is it a number that nides to be addressed. is it that strong that we spend this much money on unemployment benefits. the stupidity of it the guy in the white house had four years to turn it around. he hasn't done it it is idiotic. you have four years and you were begin a man date and why haven't you brought down the rate of unemployment. because they all believe in economics and believe that spending makes everybody happy and makes everybody have a profit. wrong. it is not...
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a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >> tom: that and more tonight on nbr! >> susie: president obama was in michigan today, campaigning on his plan to avert the fiscal cliff. speaking to union workers at the daimler detroit diesel engine plant, the president said he is willing to compromise "a little bit" with republicans on getting a plan for economic growth, job creation, and reducing the deficit. but he said he would not compromise on raising tax rates for high-income earners. >> and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks, and then we're asking students to pay higher student loans, or suddenly,
a key democrat talks about medicare cuts that could be part of a fiscal cliff deal. we talk with maryland congressman chris van hollen. >> tom: i'm tom hudson. two hurricanes in two years for the northeast-- a region not used to big storms comes to terms with the cleanup and cost. >> susie: and it's green monday, one of the most popular days for online shoppers. we've got details. >> tom: that and more tonight on nbr! >> susie: president obama was in michigan today,...
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much more on the fiscal cliff ahead. energy 21 chairman john shiller says the outcome will greatly impact his industry as you can imagine. he is our special guest coming up. tracy: congressman tom cole says even if the congress passes the president's tax cuts it will not solve the problem, spending. let's see how oil is trading. the dow fallen further down 84 points. oil trading $86.27 a barrel. about a rise of 50 cents. we'll be right back. [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sden decrease or loss in vision or hearing. th
much more on the fiscal cliff ahead. energy 21 chairman john shiller says the outcome will greatly impact his industry as you can imagine. he is our special guest coming up. tracy: congressman tom cole says even if the congress passes the president's tax cuts it will not solve the problem, spending. let's see how oil is trading. the dow fallen further down 84 points. oil trading $86.27 a barrel. about a rise of 50 cents. we'll be right back. [ male announcer ] this is the age of knowing what...
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this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the democrats plan to slow walk our economy to the edge of the fiscal cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. eight days ago secretary geithne
this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the...
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speaspeaker they begin now untie are near the fiscal cliff. mortgage rates three and a quarter percent. buyers have been on the sidelines for five years and anxiously been waiting for better news, more consumer confidence to come back out. we had a great spring selling season. now we are selling into the winter. it all feels good. liz: that doesn't usually happen with this much muscle. are there any log jams, or our would-be buyers getting the credit they need to buy the homes? >> our clients can get mortgages. our buyers tend to put a lot more money down. they mortgage a lot less, very high credit ratings. we are not seeing that problem at all. lower price point a little bit of a problem but it is getting better. liz: when you look at parts of the business that have done well. the analyst has taken a bit of a back seat to the actual lending business creating a cash cow for a lot of you guys. how is that doing and we understand the margins are very healthy for a lot of these names that are out there? >> our service is toll brothers, the only c
speaspeaker they begin now untie are near the fiscal cliff. mortgage rates three and a quarter percent. buyers have been on the sidelines for five years and anxiously been waiting for better news, more consumer confidence to come back out. we had a great spring selling season. now we are selling into the winter. it all feels good. liz: that doesn't usually happen with this much muscle. are there any log jams, or our would-be buyers getting the credit they need to buy the homes? >> our...
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Dec 10, 2012
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in 2013 regardless if we drive off the fiscal cliff or not. it is force the nation's hardest workers believe it or not cough up more dough. the country's wealthiest put uncle sam competence forever. joining us now. the government made all his mistakes, so the really wealthy people can pay for it all. speak the whole point is it can fit the bill. we'll add $10 trillion of debt, doesn't obama taught no tax increases. we're talking cover the debt over that time. it is not enough to prevent a debt crisis down the line. tracy: we have seen it time and time again. thougthe ability to wealth if yu have access to important people. they don't have to pay taxes after all. >> people don't work as hard as ithey otherwise would have, dont take risks so don't get the growth have not raised taxes. i think that's what would happen if we went with president obama's plan. they come it will not grow as fast as it would have. speetracy: inevitably our taxesl go up because the wealthy do not pay as much as they thought. >> there's not enough revenue at the top to
in 2013 regardless if we drive off the fiscal cliff or not. it is force the nation's hardest workers believe it or not cough up more dough. the country's wealthiest put uncle sam competence forever. joining us now. the government made all his mistakes, so the really wealthy people can pay for it all. speak the whole point is it can fit the bill. we'll add $10 trillion of debt, doesn't obama taught no tax increases. we're talking cover the debt over that time. it is not enough to prevent a debt...
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has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played for political -- for the extreme right wing and the extreme left win rather than coming together and leading and solving the problem. >> so grover norquist. if you had to accept the tax rates would go up, all right, just they're going to go up and they're going to go up on somebody. what would you re
has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think...
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you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give you the answer of where we're going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we raise taxes to pay for more spending. this will only hurt our economy. ernst and young has done an analysis of the president's proposal and said it will cost several hundreds thousands of jobs. there is a better way and the speaker has laid it out. it is an approach that calls for tax reform by refo
you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give you the answer of where we're going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a...
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especially the fiscal cliff. in this grim environment you can find sectors that are holding up better than you might think. poncy says the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. starbucks has been serving up solid returns. but could concerns about its moving to tea mean it is time to layoff the caffeine or is this your chance to fill up your cup before the shares really get percolating? cramer is grinding through the facts next. >>> tomorrow we are going to hear from one of my favorite companies and it is starbucks. having its biennial analyst day. right now it is more than ten points off its high for the year. i think it could mark the beginning of the stock's next big rally. you can follow along at actionalertsplus.com. a service that i do with the street. tomorrow i expect a terrific story. i'll give you a preview. lots of people ask me ho
especially the fiscal cliff. in this grim environment you can find sectors that are holding up better than you might think. poncy says the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. starbucks has been serving up solid returns. but could concerns about its moving to tea mean it is time to layoff the caffeine or is this...
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we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and get the issue resolved. i've never seen anything like this. >> you've been around a long time and seen lots of parties fight. >> they always come to go. the difference now is that -- not that there are more differences than unusual. if you go back, there's a lot of data that suggests this is not unusual. what is unusual is the republicans don't speak to the democrats and vice versa? back then, i mean, not that far. >> they went to dipper and went to lunch and discussed issues. >> when i was in the white house, tip o'neill and jerry ford used to be at each oth
we're asking for solutions to the fiscal cliff. joining me now is alan greenspan, former federal reserve chairman and now with greenspan associates. nice to have you back on the program. >> nice to be here. >> thanks so much for joining us. you have said there's no painless solution to the fiscal cliff here. what do you think the best possible outcome could be? >> the best possible outcome as far as i can see is to take something like simpso/bowles that came out originally and...
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this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and liberty, if you can't stand for those, and fight for them, they have no business being one of the two major political parties. >> monica is right, the republicans have allowed obama to ccntrol the debate, we have the morale high ground and our plan, obama in 2011 talking about tax reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great wi
this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and...
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>> the fiscal cliff. first of all i think there are issues that are beginning to improve and, you know, whether you look at the euro zone which is making progress, gradually, laboriously and certainly improving and with good numbers because if you look at thinge ia because if you look at thinge a greg gat euro zone debt, and you have political stability back now that the new team is in place so the volatility and the instability factors that are outside have reduced. the real threat that we have at the moment is really here with us and that can be addressed. >> but when you look at, i mean i understood that the european banks had sort of downsized or downgraded what they thought would be growth. you've got more than 11% unemployment in the euro zone, which is a good deal higher than here. >> yeah yeah. >> are those things threats to the u.s. economy or do you think the u.s. economy now is destabilizing or has the potential to destabilize the world economy? >> i think the u.s. economy, because it's a relat
>> the fiscal cliff. first of all i think there are issues that are beginning to improve and, you know, whether you look at the euro zone which is making progress, gradually, laboriously and certainly improving and with good numbers because if you look at thinge ia because if you look at thinge a greg gat euro zone debt, and you have political stability back now that the new team is in place so the volatility and the instability factors that are outside have reduced. the real threat that...
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. >>> up next, tick tock on the fiscal cliff. president obama and house speaker john boehner meeting at the white house just minutes from now. my thoughts on the talks, the fed, and that cliff hanger, right after this. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they ji
. >>> up next, tick tock on the fiscal cliff. president obama and house speaker john boehner meeting at the white house just minutes from now. my thoughts on the talks, the fed, and that cliff hanger, right after this. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and...
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country over the fiscal cliff. if you look at what the president's stance to gai if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand he president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before ththe fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary of defense and joint chiefs of staff told me i need to restore and can position himself as st of the protector of u.s. national security. so tre are some clear incentives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably not, but do i think there are incentives for him to do it temecula. gerri: never looked at it that way. as you look at this debate on going, there are a lot of folks who say we will be flirting with recession or in recession if we do go over t
country over the fiscal cliff. if you look at what the president's stance to gai if the country goes over the fiscal cliff, there are very clear and identifiable things. on the one hand he president could identify himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before ththe fiscal cliff. he can turn and say to my want to restore some of this funding that...
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but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act and that's part of how we should go forward. jenna: that was house minority leader nancy pelosi late last month,g democrats in congress support ad trillion dollars in federal spending cuts. with so much of the fight over that looming fiscal cliff focusing on tax rates we want to look at that claim, that claim specific to spending to see how it stands up with the facts. doug mckelway is live in washington with more on this story. >> reporter: good morning, jenna. the republicans claim democrats are solely focused on raising tax rates not spending cuts. democrats counter
but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act...